In a recent interview with Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, Andy Schectman, President and Owner of Miles Franklin Precious Metals, shared his thoughts on the potential demise of paper money and the emergence of a new monetary order.
Schectman began by discussing the current state of paper money, suggesting that we are indeed seeing the end of this era. He pointed to the massive money printing and debt accumulation by central banks as evidence that paper money is losing its value and credibility. With inflation on the rise and trust in traditional financial systems waning, many investors are turning to alternative assets like gold and Bitcoin.
When asked if this signaled the start of a new monetary order, Schectman responded in the affirmative. He noted that the ongoing global economic instability, coupled with advancements in technology, has created the perfect storm for a significant shift in the way we perceive and use money. This new monetary order, he suggested, will likely be based on digital currencies and backed by tangible assets such as gold.
Makori then inquired about the possibility of stopping this so-called ‘reset’ and who might be behind it. Schectman acknowledged that there will undoubtedly be resistance to such a change, particularly from those who benefit from the current system. However, he also believes that the momentum towards a new monetary order is too strong to be stopped, as it is driven by the fundamental flaws of paper money and the growing demand for a more stable and equitable system.
As for who is behind the plan to ‘reset’ the system, Schectman suggested that it is not the result of a coordinated effort by a specific group but rather a natural response to the ongoing economic crisis. He emphasized that the current system is unsustainable and that change is inevitable, regardless of any specific entity driving the transformation.
Towards the end of the interview, Makori asked Schectman about his outlook on gold and Bitcoin in this new monetary order. Schectman reiterated his belief in the importance of gold, citing its historical role as a safe haven asset and store of value. He also expressed optimism about Bitcoin, seeing it as a revolutionary technology with the potential to disrupt the financial industry and challenge traditional currencies.
Andy Schectman’s interview with Michelle Makori at Kitco News paints a compelling picture of a shifting monetary landscape. As paper money loses its luster and trust in traditional financial systems wanes, the demand for alternative assets like gold and Bitcoin is likely to grow. While there may be resistance to change, the inevitability of a new monetary order seems increasingly evident. Investors and individuals alike would be wise to pay close attention to these developments and consider how they might position themselves for the future.
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